Outsourced Finance Department
Many growing businesses require structured financial management and reporting but may not wish to maintain a full in-house finance department.
SyK Management Consulting provides a complete outsourced administration, finance and controlling function, enabling businesses to benefit from the expertise of an experienced finance team without the cost and complexity associated with employing full-time finance staff.
Our team includes Financial Controllers, Management Accountants and Bookkeepers who work remotely through modern cloud-based systems to support the financial operations of our clients.
Daily Finance Operations
Weekly Financial Review
Our team supports the day-to-day financial operations of the business, similar to an in-house finance department.
This may include:
• processing sales and purchase transactions
• maintaining accounting records
• bank and balance sheet reconciliations
• monitoring accounts receivable and accounts payable
• responding to finance-related queries from management and operational teams
Maintaining accurate and up-to-date records ensures that management always has reliable financial information available.
We hold regular meetings with Managing Directors or relevant department heads to review financial and operational matters.
These meetings typically include discussions on:
• financial performance updates
• budgeting and forecasting matters
• ongoing projects and operational issues
• cash flow monitoring and receivables
This ensures that management remains well informed and financial matters are addressed proactively.
Monthly Management Reporting
Credit Control & Cash Flow Management
Finance Infrastructure & Communication Channels
Digital Finance & Cloud Systems
Tax Awareness
Our team operates with a strong awareness of UK taxation implications, including:
• VAT
• PAYE
• Corporation Tax
• personal tax implications affecting SME directors
Where businesses operate internationally, we also consider matters such as:
• international VAT
• cross-border taxation considerations
• double taxation agreements
• customs duty implications
This ensures that financial processes remain aligned with tax and regulatory requirements.
Effective credit control procedures are essential for maintaining healthy cash flow.
We assist businesses in implementing structured credit control procedures including:
• automated invoice reminders
• soft and hard reminder protocols
• monitoring outstanding receivables
• regular debtor reporting
This helps ensure that businesses maintain effective control over their receivables and cash flow.
Each month we prepare management accounts and variance analysis, typically delivered between the 15th and 20th of the following month.
Reports typically include:
• Profit & Loss statement
• Balance Sheet
• variance analysis and commentary
All reports are internally reviewed using structured procedures to ensure accuracy, completeness and reliability before being presented to management.
Our services are delivered through modern cloud-based accounting and operational systems, enabling efficient remote collaboration with our clients.
Our experience includes working with platforms such as:
• Xero
• QuickBooks
• SAP
• Microsoft Dynamics
• Sage
• IRIS
• Zoho
For document collaboration and record retention we utilise secure cloud platforms such as:
• Dropbox
• Google Drive
• OneDrive
These systems allow businesses to maintain structured financial records and efficient communication channels.
Where required, we assist businesses in establishing efficient finance infrastructure and communication channels to support structured financial management.
This may include:
• dedicated finance email accounts
• shared finance mailboxes
• document collaboration systems
• coordination with IT consultants to establish centralised finance workflows
These systems help ensure that finance-related information is organised, accessible and efficiently managed.
Who This Service Is Suitable For
Our outsourced finance department services are particularly suitable for:
• growing SMEs
• owner-managed businesses
• companies experiencing operational expansion
• e-commerce and technology businesses
• businesses requiring structured financial reporting